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By Albert Cheng, CEO, SBMA

Published on June 4, 2018
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It has been a busy quarter at SBMA leading up to our 2nd Asia Pacific Precious Metal Conference (APPMC) in June. In April alone, SBMA made six outreach trips around Asia to promote APPMC. At the same time, the association has continued its market development activities with stakeholders both within and outside the ASEAN region. Here is an update of our activities in the past quarter:

April 9-12

SBMA holds its first Strategic Review Committee meeting.

April 12

CEO Albert Cheng participated in a meeting with State Bank of Vietnam at the request of the World Gold Council.

April 18-20

CEO Albert Cheng attends the Shanghai Gold Exchange International Advisors meeting in Xiamen at the invitation of the Shanghai Gold Exchange.

From left, Albert Cheng (CEO, SBMA) and Haywood Cheung (President, The Chinese Gold and Silver Exchange Society) at the Global Gold Market Summit 2018 in Xiamen.
April 22–26

CEO Albert Cheng speaks at the 30th Mint Directors Conference (MDC) in Seoul, Korea. Established in 1962, the MDC was founded by the directors of 10 western European mints and meets every two years to share information of common interest and to discuss the challenges the mint Industry faces. It is the peak body of government mints worldwide, comprising the national mints of 44 countries worldwide, in addition to other guests and observers.

CEO Albert Cheng speaking at the Mint Directors Conference in Seoul.
April 25

SBMA holds seminar “Launch of Metals Focus Annual Gold Focus 2018 Report”.

April 26-29

CEO Albert Cheng attends a meeting with Bangko Sentral ng Philipas in Manila.

Exploratory Meetings

In the past quarter, SBMA held exploratory meetings on membership and matters related to market development with the following companies: Asia Strategic Mining Corporation, Aspory, Chongqing Zhongjin Jewelry China, Cuilu Group China, GTIC Group, Jingdingfeng Precious Metals Equipment and Technology China, Macquarie Bank, National Gold and Silver Holdings China, QianKun Gold China, Sun Yip Hong Gold Company Hong Kong, Yue Hao Jewellery Group China and Zhijin Mining Group China.

Launch of Metals Focus Annual Gold Focus 2018 Report

Organised by SBMA

SBMA’s April seminar brought together over 70 participants for the launch of the Metals Focus Annual Gold Focus 2018 Report, which was presented by founding partner Nikos Kavalis.

Mr Kavalis said that gold has been going through a fairly challenging period recently, especially when denominated in other currencies, due to a lull/lack of movement in past 6–8 months and a lack of conviction in the investor community. He added that the headwinds gold has suffered in recent months would likely persist for the next 2–3 months, though its price should top $1,450/oz by year end.

World Gold Council’s Andrew Naylor provided an update on Islamic finance since the introduction of the Shari’ah Standard on Gold in 2016. He reiterated that gold is the “ultimate safe haven asset for Islamic investors”, and that the standard has facilitated the development of sharia-compliant gold products.

A team from India’s BSE presented an overview of India’s gold market and opportunities in that sector, highlighting the country’s recent structural reforms to the economy and the introduction of GST in July 2017. In particular, this has made India one unified common marketplace, with expected long-term benefits to the economy. They pointed out that GDP growth in Q3 2017 was 7.5%, compared to 7.2% in Q2 and 6.5% in Q1, and the improvement in the country’s sovereign credit rating by Moody’s from Baa3 to Baa2, with a positive outlook.

Membership

Onboarding of Chow Tai Fook Jewellery as Local Associate Corporate Member.

SBMA’s total membership consists of 40 companies, including three Category 1 members, 29 Local Associate Corporate members, seven Foreign Associate Corporate members, and one Affiliate member.

Three companies are pending membership approval.

UPCOMING EVENTS

24–26 July 2018. Beijing, China.

3rd China Gold Congress and Expo 2018

The China Gold Congress and Expo is a biennial gathering hosted by China Gold Association and World Gold Council. It consists of three streams, Gold Mining, Gold Investment Market and Gold Consumption. CEO Albert Cheng will be attending the event as a speaker. Visit http://en.china-gold.org for more information.

28–30 October 2018. Boston, USA.

LBMA/LPPM Precious Metals Conference 2018

Senior representatives from all sectors of the precious metals markets will be in attendance at what is widely regarded as the premier event in the industry calendar. In its 19th year, the conference adds insight into the vital issues affecting the global precious metals markets. Visit www.lbma.org.uk for registration and event details.

3–4 October 2018. Perth, Australia.

9th Precious Metals Investment Symposium (PMIS2018)

PMIS2018 is the largest and most comprehensive precious metals investment event in Australia. The 2-day investment and educational event includes an additional day to help investors understand what is going on in the crypto space with the introduction of the Crypto Investment Symposium (CIS2018) on 5 October. SBMA is proud to be the industry partner of the event. Registration and details are available at http://symposium.net.au.

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Singapore Bullion Market Association Secretariat-Lee-Jia-Yi

Lee Jia Yi

OPERATIONS & ADMIN EXECUTIVE
Before joining SBMA, Jia Yi worked as an Admin & Reporting Officer in her previous role. She holds a Diploma in Business & Social Enterprise from Ngee Ann Polytechnic. Jia Yi is responsible for managing and maintaining physical and digital files in SBMA, supporting invoicing processes, reconciling receivables and payables, coordinating meetings and conferences. Additionally, she will provide support to the team and assist the Business Director in managing the Association’s office operations and general administrative activities.

SECRETARIAT SBMA-Emily-Oh

Emily Oh

OPERATIONS & ADMIN EXECUTIVE
Emily Oh is the Operations & Admin Executive, a seasoned professional who values teamwork and effective communication. She is skilled at adapting to new challenges and takes a proactive and resourceful approach to every task. Before joining SBMA, Emily had experience coordinating international travel arrangements and spearheading community initiatives. Her role at SBMA will be providing operational and administrative support for projects and other matters to the team.

SECRETARIAT SBMA Clara-Chang

Clara Chang

MARKETING & COMMUNICATIONS EXECUTIVE
Clara Chang joins SBMA as the Marketing & Communications Executive, enriching the team with her extensive experience in content creation, social media management, and digital marketing. Prior to joining SBMA, Clara held the position of Marketing Executive at her previous job. She holds two bachelor’s degrees from the University at Buffalo, one in International Trade and another in Geographical Information Science. Her core duties will include maintaining the SBMA website, managing the quarterly Crucible newsletter, among other responsibilities.

SBMA Committee-Photo-john-levin

Mr John Levin

Global Metals
TD Securities
John Levin is the Head of Metal Sales & Trading – APAC at the Toronto Dominion Bank’s Singapore office. Prior to this role, he devoted seven years to leading precious metal sales for the ANZ banking group in his home country, Australia. Notably, from 2009 to 2011, John played a significant role on the management committee of the London Bullion Market Association while serving as the Head of Precious Metals Sales for HSBC Global Banking and Markets in the UK.

SBMA Secretariat-Fabian-Lew

Fabian Lew

MARKETING & COMMUNICATIONS OFFICER

Fabian was a Business Development and Marketing Associate before joining SBMA. He graduated from Singapore Management University with a Bachelor’s degree in Economics.

He has joined SBMA since February, 2022.

SBMA-margare-secretariat

Margaret Wong

BUSINESS DIRECTOR

Margaret Wong, Business Director at SBMA (Singapore Bullion Market Association), brought valuable experience from her previous role at the World Gold Council (WGC). Her tenure at WGC provided her with extensive exposure to the gold community in Singapore and the broader region. This background has been instrumental in establishing strong working relationships within the industry.

Margaret’s role at SBMA encompasses a diverse range of responsibilities. She oversees office management, business support processes, finance, and administrative functions essential for the smooth operation of the team and management committee. Additionally, Margaret handles membership matters, member communications, and addresses public inquiries related to SBMA.

One of Margaret’s key responsibilities is coordinating with the Event Management Company for SBMA’s prestigious annual event, the Asia Pacific Precious Metals Conference. This flagship conference plays a crucial role in the industry, making her involvement pivotal in its success.

Described as resourceful and self-motivated, Margaret Wong brings a wealth of skills and experience to her role at SBMA, ensuring efficient operations and effective engagement within the precious metals community in Singapore and beyond.

SBMA-Albert-secretariat

Albert Cheng

Chief Executive Officer

Albert Cheng joined the World Gold Council in March 1993 as a Regional Manager, becoming Managing Director, Far East in 2003. He retired at the end of March 2015 and was subsequently named its Advisor. He has also been an International Advisor to the Shanghai Gold Exchange since 2002.

His marketing career began with Dentsu Young & Rubicam, Hong Kong in the early 80’s. He began gold marketing in July 1985 when he joined the Royal Canadian Mint as a Regional Manager for Southeast Asia.

He was appointed honorary CEO of SBMA in November 2015. He is responsible for the success and strategic development of SBMA, represents the interests of the Association, and is responsible for all the legal and regulatory aspects of the work of the Association. He is the primary contact for regulators and government bodies on bullion market development.

Ms Pawan Nawawattanasub

Ms Pawan Nawawattanasub

CEO
YLG Bullion Singapore Pte Ltd

Pawan is the CEO of YLG Bullion Singapore and founder of YLG Bullion International. She has almost 40 years of experience in the jewellery industry and established YLG in Thailand in 2003. In 2012, she brought YLG to Singapore. She sits on the Board of Directors of the Thailand Gold Traders Association, the Thailand Futures Exchange’s Arbitration Committee, and the Rotary Bangkok committee. She holds a master’s degree in Political Science.

SBMA-Shaokai-Fan

Mr Shaokai Fan

Head of Asia-Pacific (ex China) and Global Head of Central Banks
World Gold Council
Shaokai Fan is the Global Head of Central Banks at the World Gold Council, responsible for advising governments on gold matters, and enhancing the gold market through engagement, dialogue, and thought leadership. He works directly with central banks and sovereign wealth funds on investment considerations. Prior to this position, Shaokai held multiple roles at Standard Chartered Bank, including Director for Asia Strategic Initiatives and Associate-Director for Public Sector coverage. Shaokai holds a Masters of Public Administration from Columbia University and the London School of Economics, and an undergraduate degree in finance and economics from New York University.

SBMA-Committee-Alan-Liew

Mr Alan Liew

Head of Bullion & Commodities Trading
United Overseas Bank Limited
Alan is Head of Bullion and Commodities Trading for Group Trading in Global Markets, United Overseas Bank (UOB). Alan joined UOB and started the bank’s commodities trading business in 2014, previously he spent eight years in Standard Chartered Bank (SCB) trading both precious and base metals. During his tenure at SCB, he obtained the SGE gold trader licence and was part of the pioneering team for the SGE business and the FX quantitative trading team. Prior to trading, he worked for Monetary Authority of Singapore in the Financial Risk Management Division. He holds a BSc (Hon) in Computer Science at National University of Singapore and a MSc in Financial Engineering at Nanyang Technological University.

SBMA-Committee-Nikos

Mr Nikos Kavalis

Managing Director
Metals Focus Singapore Pte Ltd
Nikos Kavalis is a founding partner of Metals Focus. He has over 20 years of experience in precious metals, having previously worked for the Royal Bank of Scotland and GFMS. Since September 2019, Nikos has been based in Singapore, where he also runs the local subsidiary of Metals Focus.

SBMA-Committee-khun nuttapong

Mr Nuttapong Hirunyasiri

CEO
MTS Gold Global Trading Pte Ltd
Nuttapong Hirunyasiri is the CEO of MTS Gold Group, one of Thailand’s top 10 companies and top 3 bullion companies. He started MTS Gold Group’s first overseas office in Singapore and has been expanding the group business internationally. He focuses on product development and innovation for gold investment, with the aim of being a leader in providing the full suite of gold investment services in the ASEAN region.

SBMA Committee-Photo-Raman-Walia

Mr Raman Walia

Executive Director, Head of Commodities Sales – APAC
JP Morgan Chase Bank N.A.

Raman is Executive Director and Head of Commodities Sales, APAC, for J.P. Morgan. He joined JPMorgan in 2008 in New York, moved to Singapore in 2011, and helped expand the precious metals business in the region. Raman has an MBA from Cornell University, and likes to travel in his spare time.

SBMA Committee-Photo-Andrew-Clarke

Mr Andrew Clarke

Head of Brink’s Global Services
Brink’s Global Services Pte Ltd

Andrew Clarke is the Head of BGS (Brink’s Global Services) for Singapore, Indonesia, Malaysia and Brunei. He has held various leadership positions throughout his career in secure logistics and risk management with Brink’s, which started in Hong Kong in 2010. Andrew relocated to Singapore in 2018 to expand the precious metals line of business along with Brink’s portfolio of services and industries.

SBMA Committee-Photo-Kazuya-Naoki

Mr Kazuya Naoki

Head of Metals, Asia
ICBC Standard Bank Plc, Singapore Branch

Kazuya (Kaz) Naoki is the Head of Metals, Asia of ICBC Standard Bank in Singapore and is responsible for the precious & base metals sales and trading in the region. He joined Standard Bank Plc Tokyo Branch in 2008 and was relocated to its Singapore Branch in 2013 whose controlling stake was acquired by the Industrial and Commercial Bank of China in 2015. Prior to joining Standard Bank, Kaz spent 11 years focusing on commodity trading and risk management with Mitsui & Co in Tokyo, Sydney and London. Kaz has been serving on the SBMA Management Committee since 2016.

SBMA Committee-Photo-Vinh-Nguyen

Mr Vinh Nguyen

Head of Precious Metals, Asia
StoneX APAC Pte Ltd

Vinh Nguyen joined StoneX Group in Singapore at the beginning of 2008 and responsible for its APAC precious metals activities since 2019 until now.

SBMA Committee-KL-Yap

Mr KL Yap

General Manager, Singapore Refining Business Unit
Metalor Technologies (Singapore) Pte Ltd
KL YAP is the General Manager of Metalor Technologies (Singapore) Pte Ltd’s Singapore Refining Business Unit. He joined Metalor in 2013, initially in Refining Sales. In 2014, he became Refining Business Unit Manager, leading the development of a new precious metal refinery. KL was Vice Chairman of SBMA from 2017 to 2021, now serving as Chairman. With a degree in business commerce, finance, and marketing, he brings prior experience from refinery and heavy industries.